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CISA® Certified Information Systems Auditor®: Study Guide, Third Edition by David Cannon

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Performing an Audit Risk Assessment

Performing a risk assessment is the next step after the audit objectives have been identified. The purpose of a risk assessment is to ensure that sufficient evidence will be collected during an audit. We will add a new term to your auditor vocabulary: materiality. Materiality refers to evidence that is significant and could change the outcome.

While searching for evidence, it is important to remember that you are not looking for 100 percent of all conceivable evidence. You are interested in material evidence that will be relevant to the outcome of your audit. Please keep in mind that it is easy to be distracted during an audit. You should focus your efforts on material evidence that either proves or disproves ...

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